Wondering if bankruptcy means losing your home? This calculator walks through your equity, exemptions, and costs of sale to estimate whether a trustee would have any real reason to pursue your house — the core question behind whether you get to keep it.
Can I Keep My House?
A guided check of equity protection, mortgage arrears, and going-forward affordability — to see which bankruptcy path, if any, lets you keep the home.
Have you lived in Illinois for at least 730 days (approximately 2 years)?
Under 11 U.S.C. § 522(b)(3)(A), you must have been domiciled in Illinois for at least 730 days before filing in order to use Illinois exemptions, including the homestead exemption. If you moved to Illinois more recently, a different state's exemptions — or the federal exemptions — may apply.
This tool is for informational purposes only and is not legal advice. Homestead exemption per P.A. 104-0120, eff. Jan. 1, 2026. Domiciliary requirement per 11 U.S.C. § 522(b)(3)(A). Chapter 13 plan and cure rights per 11 U.S.C. §§ 1322(b)(5), 1325. Contact Lakelaw — Your Financial Lifesaver™ — at (312) 662-5750.